Sinopec Acquires Daylight Energy for ...

Sinopec Acquires Daylight Energy for $2.1b; Yanzhou Coal Buys 19 Canadian Potash Mines

There are 3 comments on the story from Oct 10, 2011, titled Sinopec Acquires Daylight Energy for $2.1b; Yanzhou Coal Buys 19 Canadian Potash Mines. In it, reports that:

China Petrochemical Corp, the parent of nation's biggest refiner Sinopec Corp , agreed to buy Daylight Energy Ltd for $2.1 billion to gain Canadian shale gas reserves.

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The two faces of China

Guangzhou, China

#1 Oct 10, 2011
Good for Canada. The money will help the Canadian people. Wise to have the Chinese money going here.In the coming years these purchases will be nationalized and and the resources China wants will still be in Canada.
USA borrows 43000 per sec

Phoenix, AZ

#2 Oct 10, 2011

A recent study by the Chinese Canadian Historical Society of British Columbia singled out a number of topics that depict how the 1997 handover affected B.C. and Canada. The society singled out these changes in defining the impact of the migration wave:

1. Arrival of the 'New Chinese'

The "New Chinese" now live in every part of Vancouver and have transformed its society in almost every way. New waves of Chinese migrants from Hong Kong began 40 years ago after the 1967 Immigration Act created a points-based system that rewarded family reunification as well as education and professional status. Anticipation of the 1997 Hong Kong handover led to even greater numbers of Hong Kong Chinese coming in the 1980s and 1990s, under both the points system and new Business Migrant and Entrepreneur and Investor immigration programs.

2. Desegregation of the city

Chinese people now live in every part of Vancouver. The Hong Kong Chinese helped with this desegregation, continuing a trend that had been begun by the waves of Hong Kong Chinese that came in the 1970s after the 1967 immigration reform. The maps on page A1 by researchers Andrew Yan of SFU depict the changing distribution of Chinese in Vancouver since the 1970s. David Ley of UBC's geography department has studied the "monster house" uproar and the reactions to Hong Kong Chinese moving into neighbourhoods such as Kerrisdale and Shaughnessy that had previously been overwhelmingly white.

3. Hong Kong Chinese changed the real estate market and transformed the city

One look at the Vancouver skyline reveals the enormous effects that Hong Kong developers had in providing capital and shaping the development of Yaletown/False Creek and Coal Harbour, initiating the "Hong Kong High Rise" boom in downtown Vancouver. Less visible is how ownership of property throughout the city and the dominance of Chinese Canadian real estate brokers and agents has also transformed the real estate business of the city.

4. Richmond is now 50-per-cent Chinese and a unique product of the Hong Kong Chinese
From farmland and almost no Chinese, the city of Richmond now has one of the greatest urban concentrations of ethnic Chinese in North America. Chinese developers pioneered a unique style of strata mall and transformed Richmond into the new commercial hub of Chinese commerce in the Lower Mainland. A unique amalgam of older Hong Kong-style malls such as Parker Place and the North American strip mall, Richmond's commercial development was greatly shaped by Canada's Immigrant Entrepreneur and Business Migrant programs of the 1980s.
USA borrows 43000 per sec

Phoenix, AZ

#3 Oct 10, 2011
5. Debut of 'astronaut' families and the safe, stable 'Switzerland of the Pacific'

Vancouver is now a global city that is one stop within the Pacific world. Two thirds of male Canadians of Hong Kong origin between the ages of 25 and 40 live and work outside Canada. Large numbers of Vancouver residents have multiple homes throughout the world, creating great demand for real estate in Vancouver, but also leaving many condominiums unused for portions of the year. Like Switzerland for Europe, Vancouver is considered a safe place for storing money (not in banks, but in real estate) and a good place to send children to school.

6. Best Chinese food in the world

Because a number of high level chefs came from Hong Kong, combined with the abundance of fresh seafood, Vancouver has acquired a reputation as the home of the best Chinese food in the world. Because of the variety of migrants to the City and because Hong Kong had originally been a diverse magnet for so many different kinds of Chinese, Vancouver has developed a diversity of Chinese food cuisines (Hong Kong style, Teochew, Shanghai), making it more like SE Asian cities such as Hong Kong and Singapore in terms of variety, which is unique in North America.
Thirty years ago if someone needed Chinese groceries or wanted to eat Chinese food, he or she would have to go to Chinatown, but now every neighborhood has Chinese groceries and Chinese food. This includes the growth of new concentrations such as 41st and Victoria, and the spread of T&T Supermarkets, along with Chinese restaurant owners and customers in unlikely parts of the city.

7. Higher education has been transformed

Vancouver has become an international educational hub, with SFU, UBC, and a host of community colleges that attract students from all around the Asia Pacific. The role of the Hong Kong Chinese in this transformation was critical, being the first major wave of foreign students to B.C. in the 1980s and 1990s.
The Hong Kong Chinese transformed the class structure of the city, beginning in the 1970s after the 1967 Immigration Act's point system encouraged educated migrants to Canada, but spurred the most by the influx of professionals from Hong Kong who left in anticipation of the 1997 Handover, and resulting in a boom in university educated migrants whose children have filled Vancouver's colleges and universities.
In particular realms such as higher education, the impact of Hong Kong Chinese donors has been enormous. Both UBC and SFU have had Chinese Canadians who were born in Canada as Chancellors, but walking around the campus at UBC quickly reveals the impact of Hong Kong Chinese donors -- the Chan Centre for Performing Arts, the Sing Tao Building, the Choi Building at UBC -- but also donations such as airline tickets from Cathay Pacific to help university students travel and become more globally aware.

8.'White' collar professional labour force transformed

Chinese migrants have shifted in a single generation a white collar labour force that was truly "white" to one that is now increasingly Chinese. There are so many who entered professions in the 1970s who were the "first" Chinese in a company or in their workplace, a fact that is easy to forget now that there are so many Chinese in every field.

9. Chinese give back to the city

Although the Hong Kong Chinese have only been in Vancouver for several decades, they have made an enormous impact on the landscape of charitable giving and philanthropy, from organizations and institutions close to home such as S.U.C.C.E.S.S. and Mount St. Joseph Hospital to mainstream institutions and organizations. The crucial role of Dr. David Lam, former Lieutenant-Governor of B.C., in promoting this engagement of newly arrived Hong Kong Chinese, built a long lasting foundation for philanthropy.

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